Reconciliation is the process in which the transactions done by you are matched with your bank statements or credit card account. It is also suggested that it should be on a daily basis but it happens when you miss out and later it might create a problem for you. But don’t worry, here you can find complete solutions for such problems in one go!
Bank Reconciliation setup in QuickBooks is one of the complex features of the software. It is riddled with many issues as not all the users of QuickBooks are adept in handling accounting tasks. One such issue faced by many users is in the process of printing the bank reconciliation and at times of old bank reconciliation as well.
Although it is feasible to reprint the old bank reconciliation under QuickBooks, the whole process depends on how far back the user wishes to go to acquire the old bank reconciliations as per the version of the software being used such QuickBooks Pro, QuickBooks Premier and QuickBooks Enterprise.
In order to acquire older bank reconciliations user needs to follow the steps illustrated below:
- Select and Click on Banking tab from the menu bar and then select the option of Reconcile.
- In the new page locate and click on ‘Locate Discrepancies’ tab that is available in the lower half of the screen in the left side.
- Lastly select the option ‘Previous Reports’ on the new window.
- Lastly in tandem to the version being used by you of QuickBooks, about one entry for sure will be displayed on the new screen. As per the company, QuickBooks Pro software offers only one older bank reconciliation while QuickBooks Premier and QuickBooks enterprise both allow more older Bank Reconciliation.
However, if the user is not employing QuickBooks Premier currently but wishes to view the older report they are required to follow the steps below:
- Generate a duplicate of the company file or database.
- Next click on the copied file and open it.
- Keep on pressing ‘Undo Last Reconciliation’ tab till the user reaches the point where the month of required reconciliation is stored.
- Now click on ‘Run’ option for ‘Last Reconciliation Report’ and then select the tab ‘Print It’. Once the print is performed delete the copy company file.
The above steps should allow the user print current and older versions of Bank reconciliation with QuickBooks software.
However, if any issue is faced while printing the bank reconciliations, user is recommended to connect with the professional QuickBooks enterprise support team setup by Intuit who are trained intensively to resolve any and all kinds of errors faced with QuickBooks. The team will be able to solve the user’s query in limited time period. Although at times the contact number gets busy due to long line of customers in which case the user can go for alternative support agencies like accountingerrors.co on their toll free number ✆ or visit the website to connect through online support channels like QuickBooks chat support or email.
What are the common mistakes that end up you making for QuickBooks bank reconciliation?
The below-listed are few mistakes that the user often performs and this mess up the QuickBooks Bank Reconciliation:
💠 Voiding/Deleting previously reconciled transaction such as a bill or check
💠 Changing the date of a transaction
💠 Change of source account of a previously reconciled transaction.
What are the factors that need to be considered for Undo Bank Reconciliation?
Some of the important pointers that users need to consider:
💠 A transaction was checked off appropriately and found to have not yet been cleared.
💠 The date of the bank statement was inaccurate or was not an actual day.
💠 An erroneous date was reported for the payment.
💠 The bank reconciliation was forced and must now be corrected in an acceptable manner.
How do I print Bank Reconciliation from QuickBooks?
Initially, open your QB Company file and then move to the Settings. Next, select the Reconcile option using the drop-down menu. And then you can see a list of all accounts pop up on your screen. Select the account that you wish to work on. Once a list appears then click Reconcile Reports. In the end, hit the Print option, and then you can see an entry will get printed.